The benchmark Philippine Stock Exchange index inched up by 34 points to 6,876.79 on Friday, up 0.50 percent from the other day’s close after bright economic prospects buoyed investors’ positive sentiments.
Philstocks Financial, Inc. assistant manager for research and online engagement Claire Alviar noted that the gains were partly driven by the record-high net income of the banking industry last year versus the full year 2021. This, according to her, was despite the increasing interest rates.
Yesterday’s net market value turnover was recorded at P5.26 billion.
Except for Services, which declined by 0.16 percent, all stocks were in the green with Industrials leading the gainers, up by 1.10 percent. It was followed by the Holdings, up by 0.49 percent.
Among index members, Manila Electric Company surged the most, that is, by 11.31 percent to P315 following its upweight at the MSCI Index.
For their parts, ACEN Corporation and Globe Telecom, Inc. were at the bottom after they lost 3.97 percent and 3.08 percent, respectively. The two companies were both deleted from the MSCI Index.
PSE investor education campaign
The PSEI, meanwhile, is set to hold Investment Expo 2023, a three-day online conference aimed at educating retail investors and the general public on stock investing and legitimate financial instruments. The Expo is scheduled from 9 to 11 March 2023.
“The success of the maiden Investment Expo last year is proof that financial literacy discussions are very much needed at this time. We beefed up the lineup of activities for this year’s Expo to make learning and understanding investing concepts even more engaging,” PSE president and CEO Ramon Monzon said.
Registration is free for the event. Interested participants may log in to https://pseinvestmentexpo2023.vfairs.com/ to sign up. Prizes await 30 of the first 3,000 registered participants.
The Investment Expo will feature panel discussions on the 2023 Economic and Market Outlook and Developing a Healthy Relationship with Money. There will also be webinars on stock market basics, technical analysis, and building a stock portfolio. Practical application of investing know-how and strategy will be tested through a personal finance game.
Portfolio competition
Meantime, the top three teams from the Campus Expo 2022 Stock Research Competition will once again put their research skills to the test in a portfolio competition while graduates of the PSE’s Certified Securities Specialist Course will battle it out in an online stock market quiz bee.